What is the first thing I need to know about purchase conveyancing in Pratt's Bottom?
You may not hear this from too many lawyers but conveyancing in Pratt's Bottom or throughout South East London is an adversarial process. Put another way, when it comes to conveyancing there is lots of room for conflict between you and others involved in the transaction. For example, the vendor, estate agent and sometimes a bank. Choosing a solicitor for your conveyancing in Pratt's Bottom an important selection as your conveyancer is your adviser, and is the ONE party in the legal process whose role it is to act in your best interests and to keep you safe.
We are witnessing a worrying creep in the "blame" culture- someone has to be blamed for the process being so protracted. You must always trust your solicitor ahead of all other players when it comes to the legal assignment of property.
I am considering applying for a Aldermore mortgage for purchase of a newly converted (under development) in Pratt's Bottom with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Aldermore ?
There is nothing to stop you using your solicitor, but Aldermore will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
I purchased my home on 14 September and the transaction details is not yet registered. Need I be worried? My conveyancing solicitor in Pratt's Bottom advises it would be concluded inside ten days. Are transfers in Pratt's Bottom uniquely lengthy to register?
As far as conveyancing in Pratt's Bottom is concerned, registration is no quicker or slower than the rest of the country. Rather than based on location, timescales can adjust subject to who lodges the application, whether there are errors and if the Land registry must send notices to any interested persons or bodies. As of today in the region of 80% of such applications are completed in less than three weeks but occasionally there can be extensive delays. Registration is effected once the purchaser is living at the premises thus 'speed' is not typically an essential issue but where there is a degree of urgency associated with the registration then you or your conveyancer should speak with the land registry and explain the circumstances.
I'm converting the mortgage on my primary property to a buy to let mortgage with The Mortgage Works and intend to use the remaining equity as a down payment on another house. The area we are looking at is Pratt's Bottom. Will your solicitors be able to act for both sets of banks and tie in the conveyances?
Do use our comparison tool on this page to be sure that the solicitors are on the relevant lender panels. On the basis that they are the conveyancer should be able to tie up the two conveyancing matters but you should talk with you conveyancer and make clear your expectations and requirements.
Do you have any advice for leasehold conveyancing in Pratt's Bottom with the aim of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Pratt's Bottom can be avoided if you appoint lawyers as soon as you market your property and ask them to collate the leasehold documentation needed by the purchasers’ lawyers. You believe that you know the number of years remaining on your lease but you should verify this via your conveyancers. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is below 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale. If you have carried out any alterations to the premises would they have required Landlord’s consent? In particular have you laid down wooden flooring? Pratt's Bottom leases often stipulate that internal structural changes or laying down wooden flooring necessitate a licence from the Landlord acquiescing to such works. If you dont have the paperwork in place you should not communicate with the landlord without checking with your lawyer before hand. If there is a history of any disputes with your freeholder or managing agents it is very important that these are resolved before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is better to present the dispute as historic as opposed to unresolved. A minority of Pratt's Bottom leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
I have attempted and failed to negotiate with my landlord to extend my lease without getting anywhere. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Pratt's Bottom conveyancing firm to assist?
Most definitely. We are happy to put you in touch with a Pratt's Bottom conveyancing firm who can help.
An example of a Lease Extension case for a Pratt's Bottom property is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case related to 1 flat. The unexpired term was 50.57 years.